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Money Matters

Work with established companies, five years in business is good, ten even better. Don't bother with firms that badger you with telemarketing offers or apply high-pressure sales tactics. Avoid paying high commissions too. Some brokers have layers of fees, through which they earn more money then they do investing on behalf of customers. There are also companies out there that will not buy metal back. Stay away from them as well.

The most important thing to consider is your financial needs, especially at times when you really need cash to finance something like the birth of a child delivery or an unforeseen accident or illness. However, you must also consider the regulations on withdrawal against the annuity, because it can be a bad scenario if you find yourself being served a penalty just because you withdrew large amounts from your annuity account when it was not permitted on the plan you purchased.

There are three principal advantages to an annuity: 1. Tax-deferred accumulation. This allows you to set aside the funds that you pay into the annuity for as long as you want, without worrying about exceeding federal tax limits. 2. Flexibility. An annuity can offer you a variable or a fixed return, unencumbered by federal tax limitations. 3. Security. An annuity offers a fixed-income payout option which would grant an income that cannot be outlived.